Elon Musk originally opted to buy Twitter for $44 billion in a public tweet, claiming to expand the rights of free speech in April 2022. After creating an out-of-the-blue deal with Twitter, it was almost finalized, until the market crashed and tech companies revenue declined.
Why is Elon Holding Off?
Elon claimed that Twitter was lying about the amount of bots or fake accounts on the app, stalling the seal before completely pulling out in early July. Twitter, furious with the losses they suffered undergoing these changes, sued Musk under the Delaware court.
Twitter sued claiming Elon caused them extreme losses as also in attempt to make Musk follow through with the deal to make the company private for $44 billion. In their case, Twitter claims that they lost in revenue over the course of April, May and June and have still not recovered from the loss.
Today, it has just been announced that Musk is counter suing Twitter for reasons undisclosed to the public under Delaware court.
Musk’s reasoning for keeping the information private at this time is unsure yet, however the new information will be made public soon as Judge Kathaleen McCormick has declared a 5 day court trail to take place in October.
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